This is probably a stupid question

1freddy1

Is it possible to transfer an overdraft debt to a credit card to reduce the amount of interest paid

1freddy1

Thanks for your help

sophiesmum_2

Some credit cards allow you to transfer an overdraft but make sure you are getting a better deal on the interest,and take care not to run up the overdraft again or you are just adding to your debts.
if you are going to do this I would ask the bank to remove or reduce your overdraft limit to stop you running it up again.
sophiesmum

1freddy1

Thanks for the info

CLAPTON

if the apr on the cc is less than the overdraft , you can simply spend on the CC rather than the OD which, over a few months has the effect of transferring debt from the OD to the CC...but what are the numbers.

only a very few CC actually allow a BT from an bank a/c to a CC directly.

Janey51

Egg used to allow an OD transfer. Don't know if they have changed the rules as I don't have any cards at all now. It was too easy to run up the overdraft again.Maybe OK when there is a 0% BT offer on but I wouldn't recommend it if you are going to then think your OD is "free" money again!!!
That was one of my downfalls.